Microwave meal maker Bakkavor set for London float
Ready meal maker Bakkavor is considering a float on the London stock market, according to reports.
The firm, founded in 1986, manufactures microwave meals for supermarkets including Waitrose, Sainsbury's, Tesco and Marks and Spencer. The company also supplies fresh goods such as lettuce, tomatoes and sweet potatoes.
According to the Sunday Times, Bakkavor has enlisted Rothschild to advise on the float that may be worth hundreds of millions of pounds.
While the company has not ruled out a float, it is understood that despite the reports, a listing is not in the pipeline at the moment.
Other listed food manufacturers include Premier Foods, the company behind Mr Kipling and Ambrosia milk, and Booker Group, a wholesaler to independent convenience stores and pubs.
Read more: London set for biggest IPO in six years as warehouse giant plots 2017 float
There are hopes of an IPO bounceback this year after it emerged that private equity firm Blackstone plans to list its warehouse business Logicor on the London Stock Exchange this year. It will be the biggest London float in more than five years; Logicor is valued at £11bn.
The end of 2016 proved disappointing for the IPO market after technology company Misys, Pure Gym and TI Fluid Systems all abandoned plans to float.
But the IPO pipeline for 2017 is already looking promising. It is expected that O2 and Compare the Market owner BGL Group will float this year.